The Hill
By Ben Geman - 03/10/11 09:45 AM ET
Ethanol subsidies are coming under attack on two fronts in the Senate.
In addition to Sens. Tom Coburn (R-Okla.) and Ben Cardin (D-Md.) floating legislation Wednesday to strip a key tax credit, Sen. Dianne Feinstein (D-Calif.) floated a somewhat different measure that also takes aim at billions of dollars' worth of federal ethanol supports.
Feinstein’s plan — like the other bill — would repeal the 45 cents-per-gallon credit refiners and fuel blenders receive for each gallon of ethanol purchased and mixed into gasoline.
But Feinstein's bill — which revives her unsuccessful attempts last year to end the tax credits — would leave the incentive intact for next-generation “advanced biofuels” that aren’t made from corn.
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